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INTERIM RESULTS for the 26 weeks ended 26 June 2004.

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Presentation on theme: "INTERIM RESULTS for the 26 weeks ended 26 June 2004."— Presentation transcript:

1 INTERIM RESULTS for the 26 weeks ended 26 June 2004

2 2 Interim Results – June 2004 “..very encouraged by the progress that we have made..” Introduction Stuart Graham, CEO

3 3 Financial Review Mike Sutton, CFO Interim Results – June 2004

4 4 Interim Results – June 2004 2004 ACQUISITIONS  Acquisitions completed to June 2004  Cost £4.9 million  Annualised turnover £13 million  Acquisition completed July 2004  Costup to £27.4 million  Annualised turnover £28 million “..targeted acquisitions.. that offer attractive long term growth potential.”

5 5 Interim Results - June 2004 TURNOVER “..in line with expectations..”

6 6 Interim Results - June 2004 PROFIT AND LOSS ACCOUNT 1 Excludes goodwill amortisation 2Excludes goodwill amortisation and exceptional items 3Excludes goodwill amortisation, exceptional items and costs recharged to customers

7 7 Interim Results - June 2004 EARNINGS PER SHARE (ADJUSTED) 1 Excludes goodwill amortisation and exceptional items 2Excludes tax credit relating to agreement of specific non-recurring matters in prior periods (2003) “..invested in our established businesses..”

8 8 Interim Results - June 2004 SUMMARY BALANCE SHEET * Restated

9 9 Interim Results - June 2004 CASHFLOW AND NET DEBT 1 Excludes goodwill amortisation

10 10 Interim Results - June 2004 TEXTILE & HOSPITALITY SERVICES 1 Excludes goodwill amortisation Segment includes: Johnsons Apparelmaster, CCM, Stalbridge Linen Services, Johnson Hospitality Services

11 11 Interim Results - June 2004 DRYCLEANING Segment includes: Johnsons Cleaners (incl. Sketchley), Jeeves 1 Excludes goodwill amortisation

12 12 Interim Results - June 2004 FACILITIES MANAGEMENT & SPECIALIST SUPPLIES Segment includes: Johnson Workplace Management & Alex Reid 1 Excludes goodwill amortisation 2 Excludes costs recharged to customers

13 13 Interim Results - June 2004 INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)  Timetable  Balance sheet  Income statement  Bank covenants

14 14 Review and Outlook Stuart Graham, CEO Interim Results - June 2004

15 15 Interim Results - June 2004 OVERVIEW  Targeted acquisitions  Stabilisation of Johnsons Apparelmaster  Expansion of drycleaning  Increased range of services  Strong market positions “..considerable amount of activity..over the last two years..”

16 16 Interim Results - June 2004 DIVISIONAL STRATEGY AND PERFORMANCE “..we continue to identify cost reductions..”  Johnsons Apparelmaster –Continued wearer attrition –Restructured sales team –Cost reductions and production efficiency improvements  CCM –Expanding product range –Continued growth

17 17 Interim Results - June 2004 DIVISIONAL STRATEGY AND PERFORMANCE  Stalbridge Linen Services –Strong growth continued –Quality and service  Johnson Hospitality Services –Largest hospitality and event hire company –HSS Event Hire acquisition “..considerable success in developing new accounts..” “..the range of product..was expanded..”

18 18  Johnsons Cleaners (incl. Sketchley) –Market leader in UK with c620 branches –103 Sketchley branches acquired in May 2004 –150 units converted to GreenEarth® –Roll out of new EPOS commenced –Increased presence in South East  Jeeves of Belgravia –New store opened –New shop design developed Interim Results - June 2004 DIVISIONAL STRATEGY AND PERFORMANCE “..encouraging sales increase that reflected the quality and range of services..”

19 19 Interim Results - June 2004 DIVISIONAL STRATEGY AND PERFORMANCE “..we see considerable growth potential..”  Dimensions Corporatewear –Acquired July 2004 –Leading supplier of corporatewear –Growing market –Potential to enter Europe

20 20 Interim Results - June 2004 DIVISIONAL STRATEGY AND PERFORMANCE  Johnson Workplace Management –Strong organic growth –Expanded range of service delivery  Alex Reid – Launched GreenEarth ® to independent sector –Enlarged product range –New supply chain “..continues to perform well..” “..initial reaction very positive..”

21 21 Interim Results - June 2004 OUTLOOK  Strategy of organic growth and selective acquisition  Continued investment in established businesses  Long term growth prospects  Reorganisation and integration  Summary “..anticipate a satisfactory outcome for the year..”


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